October 17, 2019
Apartment Investment Advisers (AIA) recently brought an 18-unit apartment offering to market in the West Loop. An asking price wasn’t available for the 2009-vintage property at 25 N. Bishop St., which AIA is marketing on behalf of the original developer.
AIA’s Jack Cassin is handling the sale, and noted that there has been a minimal number of existing rental investment opportunities available in the West Loop. Today, he said, any other development in the West Loop with units of this square footage is being delivered as condominiums.
“Further, the neighborhood is seeing generational change, as evidenced by the larger developments in the surrounding area and the year-over-year rent growth,” said Cassin.
Given those market conditions, the product, and what Cassin called “an additional cool factor that is off the charts,” AIA is expecting strong demand and a successful marketing campaign and sale.
Connect Chicago Fall 2019 will take place Oct. 29 in Chicago. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny